Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

MBA: Mortgage Applications Increase in Latest Weekly Survey

by
November 24, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

These major economies are headed into recession in the next 12 months, Nomura says

More parts of China battle Covid and threats of lockdown as cases spike again

by Calculated Risk on 11/24/2021 07:00:00 AM

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 1.8 percent from one
week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending November 19, 2021.

… The Refinance Index increased 0.4 percent from the previous
week and was 34 percent lower than the same week one year ago. The seasonally adjusted Purchase
Index increased 5 percent from one week earlier. The unadjusted Purchase Index decreased 0.4 percent
compared with the previous week and was 4 percent lower than the same week one year ago.

“The financial markets continue to discern the Federal Reserve’s policy path in the coming months in light
of the current high growth, high inflation environment. Despite a fair amount of rate volatility last week,
mortgage rates were higher, with the 30-year fixed rate increasing 4 basis points to 3.24 percent,” said
Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Despite the increase in
rates, refinance applications rose slightly, driven by a 2 percent gain in conventional refinances.
Borrowers continue to lock in mortgages in anticipation of higher rates in the future. Refinance
applications were still more than 30 percent below a year ago, when the 30-year fixed rate was 32 basis
points lower.”

Added Kan, “Purchase activity increased for the third straight week, as housing demand remains robust,
even as the housing market approaches the typically slower holiday season. Both conventional and
government loan applications increased, and the average loan size for a purchase loan was at $407,200,
continuing its ongoing 2021 run of being mostly above $400,000.”

…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
($548,250 or less) increased to 3.24 percent from 3.20 percent, with points decreasing to 0.36 from 0.43
(including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
emphasis added

Click on graph for larger image.

The first graph shows the refinance index since 1990.

With relatively low rates, the index remains somewhat elevated, but down sharply from last year.

The second graph shows the MBA mortgage purchase index


According to the MBA, purchase activity is down 4% year-over-year unadjusted.

Note: Red is a four-week average (blue is weekly).
ShareTweetPin

Related Posts

These major economies are headed into recession in the next 12 months, Nomura says

by
July 5, 2022
0

Thomas Calomiris, a third generation produce vendor, weighs an onion at Eastern Market as the US struggles with rising inflation...

More parts of China battle Covid and threats of lockdown as cases spike again

by
July 5, 2022
0

Covid-related restrictions tightened in parts of China as local cases climbed, while lighter measures such as virus testing linger on...

Natural Gas Soars 700%, Becoming Driving Force in the New Cold War

by
July 5, 2022
0

Quartz India’s reluctance to raise fuel prices has created a major domestic shortage The Indian government has cut excise duty...

The second-half is ‘not looking good’: Strategists on how to weather the market storm

by
July 5, 2022
0

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters...

Tesla Pauses Plants After Ending Shaky Quarter With a Production Milestone

by
July 5, 2022
0

Bloomberg US Recession Isn’t Goldman’s Base Case, Macro Strategist Says (Bloomberg) -- The base-case expectation isn’t for a recession in...

Next Post

Stock futures decline as rising rates continue to unnerve investors, Gap shares lead retail lower

Not since Americans came home from World War II has inflation run through the economy like it is now

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Allbirds stock has plunged 50% in two months, now one top analyst says buy it

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com